Driven Technologies

Driven Technologies

Revolutionary drivetrain platform for bikes and e-bikes

Security Type
Crowd Note
Min Investment
Boulder, CO
Offering Date
April 27, 2021
Expected Close Date
July 10, 2021
Target Raise
Deal Notes

Interest rate: 5.0% Note term: 24 months

Company Description

Revolutionary drivetrain platform for bikes and e-bikesBicycle drivetrains have remained unchanged for over 100 years. Specifically, today's mechanical design of the exposed dirty chain snaking through pulleys is exactly the same technique used in the 1920's. Some may view this as an 'If it ain't broke don't fix it' approach. But cyclists have been begging for a fix; a way out of the 1920s. Enter Driven.The Driven development program was initiated in 2017 as a collaboration between CeramicSpeed and the University of Colorado Mechanical Engineering Department. The original design intention was to achieve a 99% efficient drivetrain. By the time Driven V2 arrived, the additional benefits of an enclosed system, lighter weight, and cost effectiveness were realized.Even though the Driven System is not yet in production, the public response to the drivetrain has been overwhelming. Given the present growth of cycling, and projected growth, timing has never been better for Driven.CeramicSpeed, a relatively small privately held company, has taken the Driven platform to its present state albeit limited project revenue and just a handful of dedicated engineers. Driven is highly viable, yet CeramicSpeed will require additional financial support to fully realize the potential of the drivetrain. To continue development at an accelerated pace and enable external funding, a spin-out business entity has been created, Driven Technologies Inc. With this new entity, Driven Technologies is a start-up investment opportunity, yet Driven Technologies can leverage the experienced & successful resources of CeramicSpeed. All Driven assets, IP, patents, and future development (and of course the potential revenue upside of the drivetrain) are now cleanly packaged in the new entity.Join us. Own a piece of Driven and be part of a bicycle revolution which is 100 years past due...

Key Deal Facts

The Driven System was the recipient of the Innovation Award at EuroBike 2018; the world's largest cycling tradeshow
Multiple granted and pending patents in the US, Asia, and Europe covering the Drive and Shifting system, all owned by Driven Technologies
Over 1 Billion web interactions within the first month of the introduction of the Driven System and over 65,000 page results on Google currently
Relationships and collaborations with large OEM bicycle manufacturers such as Specialized and Canyon
Testing with students and faculty at the University of Colorado Mechanical Engineering department projects drivetrain efficiency of 98.9% at 250 watts and cost analysis with Human Powered Solutions shows target cost of goods of $500 with target sale price to OEMs of $1400 to $1600

Use of Proceeds

If minimum amount is raised: product development, manufacturing, sales/marketing and G&A

If maximum amount is raised: product development, manufacturing, sales/marketing and G&A


Management Team / Advisory Board Bios

Jason Smith, CTO of CeramicSpeed and CEO of Driven Technologies
Jason is responsible for the R&D of the Driven System. Post financing, he will transition solely to the CEO & CTO of the Driven Technologies. Jason has a BS in Materials and Science & Engineering, with a focus in Mechanical Ceramics, from the Pennsylvania State University.

Deal Notes

Interest rate: 5.0% Note term: 24 months

Amount Raised : $912,182
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Security Description

A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.

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